LSEG data indicates U.S. exports to Europe climbed to 6.89 million tons last month, an increase of 1 million tons. Conversely, shipments to Asia remained stagnant at 2.73 million tons. This heavy reliance on American supply comes as the European Union prepares for a complete phase-out of Russian pipeline gas by autumn 2027 and a ban on long-term Russian LNG contracts starting in early 2027.

Market analysts warn that prices could escalate toward the 150-180 euro per MWh range. While such costs typically suppress demand, European energy buyers face limited alternatives, with existing coal capacity already pushed to its operational limit. Simultaneously, QatarEnergy has extended a force majeure on its exports and secured a long-term agreement with Cheniere Energy to purchase 4 million tons of U.S. LNG annually starting in the early 2030s.